BUsiness & Finance Exam
BUsiness &Finance Exam
-
Business & Finance
Exam -
Trade License
Exam -
Application
Process -
Launch Your
Business
01
Passing your
Business & Finance
Exam
SUCCESS CHECKLIST
- Order Business & Finance Exam Study Books
- Register as Contractor Applicant on DBPR
- Attend Business & Finance Class
- Schedule Business & Finance Exam
- Schedule Tutoring Business & Finance Exam
02
Passing your
Trade License
Exam
SUCCESS CHECKLIST
- Open Corporation & EIN #
- Order Trade Exam Study Books
- Attend Trade Class
- Schedule Trade Exam
- Schedule Trade Tutoring or Cram Course
03
Passing your
Application
Process
SUCCESS CHECKLIST
- Schedule your Application Interview
- Obtain Credit Reports
- Fingerprints & Background Check
- Gather & Submit Appication Documents
- Obtain Insurance & Bond Quotes
04
You are Licensed!
Launch Your
Business
SUCCESS CHECKLIST
- Post-License Bussiness Support
Requirements
- AIA - A201 - General Conditions of the Contract for Construction, 2017
- AIA - A401 - Standard Form of Agreement between Contractor-Subcontractor, 2017
- AIA - A701 - Instructions to Bidders, 2018
- Builders Guide to Accounting - Add To Cart
- Contractor’s Manual, 2021 - Add To Cart
- Florida Statutes Chapter 455, 2021 - Add To Cart
Florida
To become a licensed contractor in Florida, you are required to:
- The Florida Business and Finance exam is required for all contractor types.
- This exam is taken in addition to the contractor or trade exam.
- This seminar prepares attendees for the State Business and Finance exam, not for city/county exams.
- Business and Finance review is already included in Building, General, and Residential Contractor seminars.
- Requirements such as experience, financial, fees, bonds, insurance, and exam content are available on each license information page.
- All contractors must be at least 18 years old and of good moral character.
- Starting November 1, 2007, initial licensure or status change applicants must complete a criminal background check by the Florida Department of Law Enforcement and FBI.
- Applicants must ensure their fingerprints are scanned by the department's vendor, Promissor/Pearson VUE, before submitting their application.
- Applicants with a FICO credit score below 660 must provide a licensing bond or letter of credit.
- Licensing bond or letter of credit amounts are $20,000 for Division I contractors and $10,000 for Division II contractors.
- Additional information on financial responsibility requirements is available on the Department’s website.
- Contact us for detailed information or personal credit concerns.
The Business and Finance exam is a mandatory requirement for anyone seeking a contractor license in Florida. This exam ensures that contractors have the financial knowledge and business skills needed to operate responsibly within the state. It must be completed in addition to the specific contractor or trade exam, meaning that both exams are essential for licensure in any contracting field. This dual requirement helps maintain high standards and ensures that all licensed contractors are prepared for both the practical and financial aspects of their trade.
Applications for the Florida Business and Finance License must be submitted to the Florida Department of Business and Professional Regulation. For application instructions and assistance, call 850-487-1395. The application process includes proof of financial stability, details of insurance coverage, and electronic fingerprinting, among other requirements.
Florida has no reciprocal agreements with any states at this time.
Florida requires all licensed contractors to complete 14 hours of continuing education during each biennial renewal period. This education must include 1 hour on workplace safety, 1 hour on workers' compensation, 1 hour on business practices, 1 hour on laws and rules, 1 hour on wind mitigation, and the remaining hours on general subjects.
To secure a Florida Residential Contractor license, you must successfully complete two tests: the Florida Business and Finance test and the Trade Proficiency test. These tests include subjects like financial management, contract management, project oversight, safety regulations, construction codes, and specialized contracting methods. The assessments are conducted by Professional Testing, Inc. (PTI). It’s a 120-question exam with a time limit of 390 minutes that covers virtually all business and finance aspects of general contracting in Florida, including payroll and accounting, lien/labor/tax law, productivity calculations and more.
Training for the Florida Business and Finance exam is available through various providers, offering courses that cover both Business and Finance and essential preparation for specific trade knowledge. These courses are designed to help applicants pass their exams on the first attempt by equipping them with the necessary knowledge and test-taking strategies.